Front

What is profit?

Back

Profit is the financial gain obtained when the revenue from sales exceeds the costs associated with producing the goods or services.

Front

How do you calculate profit?

Back

Profit = Total Revenue - Total Costs.

Front

What is loss?

Back

Loss occurs when the costs of producing goods or services exceed the revenue generated from sales.

Front

How do you calculate loss?

Back

Loss = Total Costs - Total Revenue.

Front

What is the formula for calculating percentage profit?

Back

Percentage Profit = (Profit / Cost Price) x 100.

Front

What is the formula for calculating percentage loss?

Back

Percentage Loss = (Loss / Cost Price) x 100.

Front

If an item costs $100 and is sold for $150, what is the profit?

Back

Profit = $150 - $100 = $50.

Front

If an item costs $200 and is sold for $150, what is the loss?

Back

Loss = $200 - $150 = $50.

Front

What is the selling price if the cost price is $200 and the profit is $50?

Back

Selling Price = Cost Price + Profit = $200 + $50 = $250.

Front

What is the selling price if the cost price is $300 and the loss is $100?

Back

Selling Price = Cost Price - Loss = $300 - $100 = $200.